Advice - redundancy vs resignation

bsclp118 · 3 December 2015 at 5:14PM

I am currently in a fixed term contract that is due to expire on the 30th September. I will have a meeting in March to tell me I have 6 months left before my contract end and be offered a place on the redeployment register at the university. There is very unlikely to be anything suitable and there are many researchers just like me also on the register. However I have to "fully engage" with the redeployment process to qualify for my redundancy, which is 4 months net pay, tax free. i.e. about £12k, which would obviously go a long way towards becoming debt free, but would also leave me without a job.

I have recently been looking into retraining as a teacher. As I have a PhD I would be entitled to a generous £30k bursary for the year training, plus I would possibly qualify for some kind of student loan - though I'm not entirely sure on that. However I would need to hand in my resignation as I would need to start the course mid-September, which would mean I lose my redundancy pay?

So my question is - what should I do? Although the bursary for training is reasonable I will be taking a pay cut the following year as newly qualified teacher salaries are about £10k lower than my current salary.

On the plus side, if I can get a place on the program it's guaranteed income for the year and also some pretty decent career prospects regarding job stability - physics teachers are in demand!

So yeah.... opinions needed please?

vlad · 3 December 2015 at 11:30PM

You should speak to the SLC about any available loans, how far apart would your leaving date and the course start date be? could you start just a few days later?

crazy_cat_lady · 3 December 2015 at 11:57PM

I went from PhD to teaching (chemistry) 11 years ago - nothing that generous in terms of training bursary. I just wondered if you had spent some time in schools recently or if you have friends that are teachers? Like you, I took a pay cut to become a teacher, and although some days I feel like tearing my hair out I actually love what I do. But it's hard and definitely not for everyone - that's why we have such a high rate of sickness, and people leaving the profession in the first few years.
Good luck.

bsclp118 · 4 December 2015 at 6:47AM

Well I need to spend some time in schools before making my decision, so maybe that will decide things one way or another for me! I just can't see myself going into an office job and like the idea of being challenged and each day being different. But yeah, I am under no elusions that it's going to be an easy ride!

crazy_cat_lady · 4 December 2015 at 8:28AM

I would definitely spend some time in schools before you make your decision - it may sway you one way or the other. I think if you find that teaching is something that you want to do then you should do it. We need more good teachers in the profession for sure...

It may be worth speaking to the university about starting a couple of weeks late so you can finish your other job?

bsclp118 · 4 December 2015 at 9:47AM

I've spoken to a number of providers and they are pretty adamant there's no flexibility in the start date, unfortunately! But if I do like it I guess long term career prospects have to be my main consideration, however gutting that maybe!

Gladioli · 4 December 2015 at 2:43PM

What is your notice period? You could always apply for the course and then let the university know that you have applied just in case there are no redeployment opportunities. You then play the waiting game, hoping the stars are in alignment and that nothing comes up, you then leave and join the course, with 12k in your pocket. Also whilst the course may have a fixed start date, there are always reasons why some students cant start and may have to start a week later, a doctors note can be useful in these situations!!!!!

bsclp118 · 4 December 2015 at 2:46PM

Hi,

Thanks Gladioli, I have thought of this and will try play it this way. I actually would genuinely be interested if a redeployment opportunity came up. I will see how it all works out - how much holiday I have left and such as it is going to be more like 2-3week, but if I have 10days of my contract that would only be a week I had to cover for.

ShakeItOff · 4 December 2015 at 3:13PM

Could you use any accrued but unused holiday to bridge the gap (or some of the gap)?

timefortea · 4 December 2015 at 4:43PM

The tuition fees for a PGCE are usually £9,000, and any maintenance loan you took out would obviously be repayable too. It's not like a normal debt, but if you're thinking about it solely as a financial prospect that's something to bear in mind. You'd be paying it back at a rate of 9% of anything you earned above £21,000.

UrbanDanceSquad · 4 December 2015 at 7:06PM

bsclp118 wrote: »

I am currently in a fixed term contract that is due to expire on the 30th September. I will have a meeting in March to tell me I have 6 months left before my contract end and be offered a place on the redeployment register at the university. There is very unlikely to be anything suitable and there are many researchers just like me also on the register. However I have to "fully engage" with the redeployment process to qualify for my redundancy, which is 4 months net pay, tax free. i.e. about £12k, which would obviously go a long way towards becoming debt free, but would also leave me without a job.

I have recently been looking into retraining as a teacher. As I have a PhD I would be entitled to a generous £30k bursary for the year training, plus I would possibly qualify for some kind of student loan - though I'm not entirely sure on that. However I would need to hand in my resignation as I would need to start the course mid-September, which would mean I lose my redundancy pay?

So my question is - what should I do? Although the bursary for training is reasonable I will be taking a pay cut the following year as newly qualified teacher salaries are about £10k lower than my current salary.

On the plus side, if I can get a place on the program it's guaranteed income for the year and also some pretty decent career prospects regarding job stability - physics teachers are in demand!

So yeah.... opinions needed please?

Reads like you're pretty well educated in a STEM subject. Is there nothing in the commercial world where your skills and education can be used and earn you a decent whack?

Advice - redundancy vs resignation

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